Even

Even having achieved hurricane status, Irene proved to have nomore “hype” for gas prices left in it. Cash quotes Thursday fell adime or more at most eastern points and a little bit less in theWest. Gulf Coast numbers tended to drop a nickel or so from theirearly morning highs, one trader said. That resulted in the anomalyof him getting identical $2.67 pricing for an early sale inTennessee Zone 0 (South Texas) and a late sale at Transco Station65 (South Louisiana).

Not even the best financial quarter since the fourth quarter of1997 could prevent BP Amoco from following through with itsjob-cutting plan as the company said it will cut 2,000 morepredominantly US jobs before the year is over. The integratedenergy giant has already slashed 12,500 jobs from the pay roll. Itwould not elaborate on which US jobs would be eliminated.

Georgia Natural Gas Services (GNGS) has equaled or even may haveovertaken Scana as Georgia’s leading marketer in terms of pipelinecapacity share, a GNGS executive said on Monday. With 30% of thepipeline capacity, GNGS is in line to be assigned another 120,000customers when the Georgia Public Service Commission (GPSC)determines random assignment tomorrow.

Even as temperatures were shattering records throughout much ofthe Northeast,sending electricity prices spiking near $1000/MWhTuesday, natural gas futures were hit with a wave of selling tokick off the week. Speculative fund traders, who have been longpositions for almost three months now, were prominent sellersearly. But trade and local selling was not far behind, sending theAugust contract to its lowest level since the middle of April. Theprompt month finished down 9.6 cents at $2.191, after carving out a$2.16 bottom. Estimated volume was a robust 124,967.

Florida has become a hot bed of new gas pipeline development andexpansions designed to serve burgeoning power generation demand.Even before the ink is dry on its last expansion application,Florida Gas Transmission (FGT) is gearing up for another $250million expansion filing with FERC later this year.

Even before their merger is consummated, Dominion Resources andConsolidated Natural Gas are making plans to begin development offour gas-fired peaking power generation facilities along CNGTransmission in Ohio, Pennsylvania and West Virginia. Thefacilities represent up to $800 million in local investment. Allfour plants are expected to be in service in time for peak summerdemand in 2002.

Even before their merger is consummated, Dominion Resources andConsolidated Natural Gas are making plans to begin development offour gas-fired electric power generation facilities along CNGTransmission in Ohio, Pennsylvania and West Virginia. Thefacilities represent up to $800 million in local investment. Allfour plants are expected to be in service in time for peak summerdemand in 2002.

Significant savings are increasingly hard to come by for large,multi-facility energy users even with the help of outside energyexperts, according to panelists last week discussing energymanagement outsourcing at NGI’s GasMart/Power ’99 in Dallas.

Significant savings are increasingly hard to come by for large,multi-facility energy users even when using outside energy expertsin the face of volatile commodity markets and increasing pressuresinside their companies to show significant returns on investments,according to panelists yesterday discussing energy managementoutsourcing Monday at GasMart/Power ’99 in Dallas.